Press Release from Bow Tie Cinemas and Cablevision
RIDGEFIELD, Conn. & BETHPAGE, N.Y.--(BUSINESS WIRE)--Jun. 27, 2013-- Bow Tie Cinemas and Cablevision Systems Corporation (NYSE: CVC) today announced the completion of Bow Tie’s acquisition of substantially all of the Clearview Cinemas theaters from Cablevision. With this acquisition, Bow Tie Cinemas becomes the eighth largest theater circuit in the United States. The company now has the largest number of theater locations in the New York metropolitan area. Financial terms of the transaction were not disclosed.
Williams Mullen acted as legal advisor to Bow Tie Cinemas and Anchin, Block & Anchin acted as financial advisor. Citi acted as financial advisor to Cablevision and Hughes Hubbard & Reed LLP acted as legal advisor.
About Bow Tie Cinemas
Bow Tie Cinemas is a four generation family-owned entertainment business founded over a century ago by motion picture industry pioneer B.S. Moss. The company’s mission is to return style and elegance to the movie-going experience™. Bow Tie’s storied history has spanned the eras of the Nickelodeon, Vaudeville and the birth of the motion picture theater. Today Bow Tie is the oldest cinema company in the United States and currently owns and operates 63 movie theaters with 388 screens in seven states. The company provides long-term investments to the communities it serves and is dedicated to offering the best possible presentation and service to its patrons. For more information, visit www.bowtiecinemas.com.
About Cablevision Systems Corporation
Cablevision Systems Corporation is one of the nation's leading media and telecommunications companies. In addition to delivering its Optimum-branded television, Internet, and voice offerings throughout the New York area, the company owns and operates cable systems serving homes in four Western states. Cablevision’s local media properties include News 12 Networks, MSG Varsity and Newsday Media Group. Additional information about Cablevision is available on the Web at www.cablevision.com.